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Oil prices fall more than 1% as Secretary of State Blinken pushes for Gaza cease-fire - TL;DR CNBC

Oil prices fall more than 1% as Secretary of State Blinken pushes for Gaza cease-fire

Publishing timestamp: 2024-04-29 11:43:07


Summary

Israel is waiting for Hamas to respond to a cease-fire proposal, which could potentially ease geopolitical risk premium factored into oil prices. Oil prices slipped on Monday as U.S. Secretary of State made diplomatic efforts in the Middle East. Exxon and Chevron reported decline in profits due to collapse in natural gas prices. Analysts believe the oil market is coiling for a potential big move, with some predicting a risk of upside move. Various financial institutions are giving their outlook on the energy sector and commodities market.


Sentiment: NEUTRAL

Tickers: @CL.1@LCO.1@NG.1%40RB.1?QSEARCHTERM=%40RB

Keywords: natural gas (mar'23)ice brent crude (apr'23)investment strategyoil and gasbusiness newsmarketswti crude (mar'23)breaking news: markets

Source: https://www.cnbc.com/2024/04/29/crude-oil-prices-today.html


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